Vice President of the European Investment Bank (EIB) Nicola Beer on Wednesday assured the interim government of its help in carrying out vital reforms it has undertaken. “We have come in a very challenging time; we back the interim government and its reform agenda,” she said when she met Chief Adviser Prof Muhammad Yunus at the State Guest House Jamuna. Beer said the EU has the technical expertise to provide the support. “Everything we can do, please ask,” she said, adding, “It is important to make it visible that the Interim Government of Bangladesh is not only working but also delivering.” Calling the present period an opportune time, Dr Yunus sought EIB help in tackling corruption, the green transition in energy and formulating a broader plan for the Sundarbans mangrove forest and the surrounding region and river system. Govt solicits EU lending for human resource development He also sought EIB support in building facilities in Chittagong Port for the development of the people in eastern Bangladesh and water management in northern Bangladesh, according to the Chief Adviser's press wing. Dr Yunus said the development in eastern Bangladesh, in the largest port in the region, will also benefit eastern India and Myanmar.

Appreciating the longstanding relationship between Bangladesh and the European Union (EU), Foreign Affairs Adviser Md Touhid Hossain on Tuesday sought support from the European Investment Bank (EIB) in human capital development, with particular emphasis on vocational training. He noted that the large number of Bangladeshis living abroad could better contribute in both economies through skills development. With regard to the EIB-financed projects in Bangladesh, Hossain hoped for efficient and expedited disbursement as per commitment. The issues were discussed when visiting Vice President of the EIB Nicola Beer met with the Foreign Affairs Adviser at the latter’s office. Read: EU and EIB pledged support for Bangladesh's environmental protection priorities: Rizwana

European Investment Bank (EIB) Vice-President Nicola Beer on Tuesday said they find the current situation in Bangladesh "stable" for their investment in priority sectors. "The current situation I see... It's stable for investment. So, we go on with what we already decided together. So, this was the reason why I was speaking about further signatures during this year's time," she told reporters while responding to a question at the Ministry of Foreign Affairs after her first meeting with Foreign Affairs Adviser Md Touhid Hossain at his office. But of course, Beer said, it is up to the Bangladeshi citizens and bodies to decide on the moment of elections and of the power then in Parliament afterwards. The EIB Vice President said she can only express from the side of the European investment Bank group that they are "backing" this interim government and they are looking together with the different ministries and sectors, which investments they now can also speed up. They also talked about the priorities of investments in Bangladesh to deliver. "I'm quite optimistic that we will see through the signatures during this year to come on important projects, especially in the sector of water and sanitation," she added. "I think we are quite near when it comes up for the programme of the interim government to reform and lead it to elections, quite soon," Beer said. EIB VP Beer begins Bangladesh tour to strengthen ties with interim govt She said she is really happy now to be here in Dhaka to hear firsthand from the different ministries, but also from economy leaders and citizens groups about the challenges and about their own plans for the future of the country. "I hope we can deliver together, especially with the support of the European Union. So I'm very happy that the ambassador is with us who is very well connected here in the country and gives us valuable insights," Beer said. "I only can assure you that the European Union as a whole is standing behind this interim government together with the Bangladeshi people, to serve the Bangladeshi citizens for the future to come," she added. Responding to a question from the UNB correspondent, Beer said energy is a very important part of it. "We have a framework loan, we want to bring it really down now also in the project and this is something we will look further and try to speed up." In today's meeting they discussed international relations, how they can place this country also in the region as a strong nation on an equal footing. "We reaffirm the support of the European Union and also of its bank as European Investment Bank. And now we'll see the different projects and maybe also new proposals with the other ministries and sectors. So maybe you ask me in two days’ time," Beer said. She began her three-day visit on Tuesday to review existing partnerships, discuss various issues and explore expanded investment cooperation with the interim government. Ambassador of the European Union to Bangladesh Michael Miller, among others, accompanied her during the meeting with Adviser Hossain. "A number of meetings have been lined up, including a meeting with Chief Adviser Prof Muhammad Yunus," a senior official told UNB on Monday. European countries: CA's press wing shares progress on visa issues Vice-President Beer, during her stay in Dhaka, will also hold meetings with Finance and Planning Adviser Dr Salehuddin Ahmed, Power, Energy and Mineral Resources; Railways Adviser Muhammad Fouzul Kabir Khan, Environment, Forest and Climate Change, Water resources Adviser Syeda Rizwana Hasan, Local Government, Rural Development and Co-operatives Adviser Asif Mahmud Shojib Bhuyain and Bangladesh Bank Governor Ahsan H Mansur to discuss wide range of issues, officials at the relevant ministers said while speaking to the UNB correspondent. She will also have a breakfast meeting with the representatives of the KfW, AfD, ADB, IMF, WB, IFC and JICA. The Vice President will have an interaction over dinner with the European Union Chamber of Commerce in Bangladesh (EuroCham). She is likely to visit Ghandharbpur Water Treatment Plant on Thursday before wrapping up her visit. The EIB, owned by the 27 EU member states, is the world's largest multilateral financial institution and serves as the European Union's investment bank. Vice-President Beer oversees policy priorities, critical raw materials, EU Multiannual Financial Framework (MFF) and financing operations in South, Southeast and East Asia. While climate action is a big part of EIB activities, it also focuses on the environment, development, innovation and skills, small and medium-sized businesses (SMEs), infrastructure and cohesion. Govt trying to make things easy for investors: Foreign Adviser Prof Yunus recently urged the European Union (EU) to extend support to Bangladesh to transform its energy sector. “We look forward to your cooperation on that…we also talked to other countries to provide us support for transformation of our energy sector,” he said during an interactive session with the diplomats of European countries, stationed in Dhaka and New Delhi last month. Chief Adviser Prof Yunus said the environment is, of course, a top priority for them. Bangladesh is a victim of environmental degradation that is taking place, Prof Yunus said, adding, “In one area, I get very interested – renewable energy”. The EIB finances and invests both through equity and debt solutions companies and projects that achieve the policy aims of the European Union through loans, equity and guarantees. Since its establishment in 1958, the EIB has invested over a trillion euros in projects in Europe and countries worldwide.

European Investment Bank (EIB) Vice-President Nicola Beer is set to visit Dhaka on Tuesday for a three-day trip to review existing partnerships, discuss various issues and explore expanded investment cooperation with the interim government. The EIB, owned by the 27 EU member states, is the world's largest multilateral financial institution and serves as the European Union's investment bank. Vice-President Beer oversees policy priorities, critical raw materials, EU Multiannual Financial Framework (MFF) and financing operations in South, Southeast and East Asia. "A number of meetings have been lined up, including a meeting with Chief Adviser Prof Muhammad Yunus," a senior official told UNB on Monday. While climate action is a big part of EIB activities, it also focuses on the environment, development, innovation and skills, small and medium-sized businesses (SMEs), infrastructure and cohesion. Vice-President Beer, during her stay in Dhaka, will also hold meetings with Finance and Planning Adviser Dr Salehuddin Ahmed, Foreign Affairs Adviser Md Touhid Hossain, Power, Energy and Mineral Resources; Railways Adviser Muhammad Fouzul Kabir Khan, Environment, Forest and Climate Change, Water resources Adviser Syeda Rizwana Hasan, Local Government, Rural Development and Co-operatives Adviser Asif Mahmud Shojib Bhuyain and Bangladesh Bank Governor Ahsan H Mansur to discuss wide range of issues, officials at the relevant ministers said while speaking to the UNB correspondent. She will also have a breakfast meeting with the representatives of the KfW, AfD, ADB, IMF, WB, IFC and JICA. Read: Commerce Adviser seeks investment from Bangladeshi entrepreneurs in UK The Vice President will have an interaction over dinner with the European Union Chamber of Commerce in Bangladesh (EuroCham). During its launching, the EU Ambassador to Bangladesh, Michael Miller, expressed the EU’s intention to partner intensively with EuroCham to maximise trade and investment, explore more intensive B2B contacts, navigate the challenges of LDC graduation and promote sustainable due diligence in supply chains, opening up the prospect of greater EU FDI and a more diversified Bangladeshi economy. She is likely to visit Ghandharbpur Water Treatment Plant on Thursday before wrapping up her visit.   Prof Yunus recently urged the European Union (EU) to extend support to Bangladesh to transform its energy sector. “We look forward to your cooperation on that…we also talked to other countries to provide us support for transformation of our energy sector,” he said during an interactive session with the diplomats of European countries, stationed in Dhaka and New Delhi last month. Chief Adviser Prof Yunus said the environment is, of course, a top priority for them. Bangladesh is a victim of environmental degradation that is taking place, Prof Yunus said, adding, “In one area, I get very interested – renewable energy”. Read more: CA's special envoy urges British entrepreneurs to invest in Bangladesh The EIB finances and invests both through equity and debt solutions companies and projects that achieve the policy aims of the European Union through loans, equity and guarantees. Since its establishment in 1958, the EIB has invested over a trillion euros in projects in Europe and countries worldwide. The EIB’s climate and energy goals are setting new standards in Europe and beyond. It does not back fossil fuel projects, and it devotes more than 50% of its investments to climate action and sustainability. EIB investments support the green transition. As the EU climate bank, the EIB is helping to meet the commitments of the Paris Agreement — the international treaty on climate change — and the United Nations’ Sustainable Development Goals. They pledged €1 trillion in investment for the climate and the environment by 2030, and are on track to meet that target. The EIB’s operations accelerate green growth and the decarbonisation of economies and it supports energy efficiency and renewable energy projects, which help to reduce carbon emissions and strengthen energy security. Read more: Strengthen export base with more investment:  Dr Yunus to entrepreneurs EIB investments also fight the effects of climate change on vulnerable communities, protecting biodiversity and promoting sustainable farming. Every project that the EIB supports, whether for innovation, small businesses or infrastructure, it remains aligned with their climate goals. EIB Global, the EIB’s development arm, brings all the resources of the Bank to bear on its operations outside the European Union.

European Investment Bank (EIB) President Dr Werner Hoyer has appreciated the use of Euro 1 billion loan portfolio for Bangladesh since 2000 in areas of shared priorities. He noted, in particular, progress in projects – under implementation – under water treatment and rail link upgradation. Prime Minister Sheikh Hasina held a meeting with the EIB President recently at her hotel suite in Brussels. The prime minister referred to the achievements made so far in ensuring safe water and sanitation for nearly 97 percent of the population in Bangladesh. Also read: ‘Dear PM Hasina, 50th anniversary of EU-Bangladesh relations is the occasion to take our partnership to the next level’ She requested EIB to consider supporting river dredging, water conservation, and surface irrigation. PM Hasina also mentioned the initiatives taken by her government to develop dual-track railway, to promote cost-effective passenger and container traffic. She appreciated the interest of multilateral development banks in financing such impactful connectivity projects. The EIB president referred to the loan package of Euro 250 million signed in 2021, said the Ministry of Foreign Affairs on Thursday (October 26, 2023). He shared that the disbursement of the amount would commence soon for the purpose of health system strengthening. Also read: PM leaves for Belgium Tuesday on a significant EU visit The EIB president observed that Bangladesh was in an ideal situation to roll out vaccine production. The prime minister informed him about the measures taken by the government to develop a vaccine production facility and a molecular testing laboratory. She suggested that EIB extend support for necessary infrastructure development for these initiatives. She reiterated that Bangladesh could support EU’s efforts to diversify production of pharmaceuticals, vaccines and medical equipment. She also discussed possible support measures for combating dengue outbreaks, including through vaccines. The EIB is the largest multilateral public bank in the world. In 2022 it financed around Euro 10.8 billion in investments outside the European Union via EIB Global, the arm of the bank created that year for activities beyond Europe. Since the beginning of its operations in Bangladesh in 2000, the EIB has supported six projects in the country and has invested more than Euro 670 million in water, transport and health projects. Also read: PM Hasina asks EU to extend GSP+ facilities for 6yrs to graduating LDCs like Bangladesh END/UNB/MK/KW

The European Investment Bank (EIB), the bank of the European Union and the largest multilateral lender in the world, will provide €250 million to Bangladesh to support the procurement of safe and effective vaccines and country-wide immunisation against Covid-19.  Vaccination efforts will also include Rohingya refugees from Myanmar currently hosted in Bangladesh.  The financing will help Bangladesh mitigate the health effects of the coronavirus pandemic and enable the country to strengthen its healthcare system and protect its people from Covid-19 with effective vaccines, said the European Union Embassy in Dhaka on Thursday.  These are all key preconditions for continued sustainable economic and social growth. This is the first operation allocated under the €425 million South Asia Public Healthcare Covid-19 programme approved by the EIB in 2021.  This programme aims to provide long-term support for Covid-19 vaccination, pandemic preparedness and health system resilience in Bangladesh, the Maldives and potentially other countries in South Asia.  EIB Vice-President Christian Kettel Thomsen, who is responsible for operations in South Asia, said the EIB is very proud to expand Team Europe support for Bangladesh, ensuring its people are protected from coronavirus with effective vaccines.  Read: EU assures continued trade benefits to Bangladesh after LDC graduation "Together with the €1.3 billion in EIB support already extended to the COVAX vaccine-procurement initiative, operations like these are a key step in accelerating global immunisation and a quick and effective victory over the virus. At the same time, this operation underlines our strong, long-term commitment to working with other members of Team Europe and the government of the People’s Republic of Bangladesh to ensure a safe, green and sustainable future for Bangladesh and its people.” Bangladesh Ambassador to the European Union Mahbub Hassan Saleh said the EIB’s loan of €250 million to the government of Bangladesh for procuring Covid-19 vaccines is the biggest and most significant development in the 22-year long journey of the Bangladesh-EIB partnership.  He said the footprint of the EIB in Bangladesh is becoming larger and expanding into new areas, which would continue in the days ahead and contribute to greater socioeconomic development in the country.  "Climate change, infrastructure and renewable energy are some key areas of importance to Bangladesh and the European Union, where the EIB’s involvement can be robust in the coming days.” EU Ambassador to Bangladesh Charles Whiteley said the substantial support from the EIB that is being confirmed today marks a very welcome addition to the Team Europe partnership with Bangladesh to fight the pandemic.  "EU relations with Bangladesh are expanding in so many fields: from climate change to business, from connectivity to people-to-people relations. This commitment in the health sector is a further signal of the strengthening of our ties," he said.  The operation is covered by the EU EFSD+ Comprehensive Guarantee and its Neighbourhood, Development and International Cooperation Instrument (NDICI). Read: Govt to import 1.490mn MT of refined petroleum Team Europe and the EIB accelerate COVID-19 vaccine deployment across the world. Since the beginning of the coronavirus pandemic in 2020, the EIB has been providing long-term financing to support national healthcare systems, including to accelerate local vaccine deployment in countries throughout the world.  The EU bank has been supporting vaccine research and production as well as COVID-19 diagnosis and treatments.  With EIB innovative cost-sharing financial instruments and contributions from the European Commission and EU countries, Team Europe has committed more than €3 billion to COVAX, the largest vaccine procurement and supply operation in the history of the world.  Europe is exporting more vaccines than any other region in the world, with the EIB actively supporting build-up of vaccine production capacities in less developed regions across the globe. In January 2022, COVAX delivered the 1 billionth COVID-19 vaccine dose, following distribution of the life-saving vaccines to some 144 countries. As part of its global COVID-19 response in 2021, the EIB Group increased its financing for the health and life sciences sector to almost €5.5 billion, with €1 billion invested into health and life sciences funds. Overall, more than 780 million people around the world will benefit from improved health services, including COVID-19 vaccines, made possible by EIB financing. EIB Global: a new partner for Team Europe  Last year, the EIB Group provided €8.1 billion of financing to projects in more than 160 countries outside the European Union including Bangladesh, bringing the total amount of investments outside the EU to more than €1.5 trillion.  In January 2022 the EIB announced the establishment of EIB Global, its branch dedicated to international partnerships and development finance.  EIB Global will bring together all of the EIB’s resources and expertise gained outside the European Union under a clear management structure that can make a stronger, more focused contribution to Team Europe projects and initiatives.  The first regional hub of EIB Global opened in Kenya’s capital Nairobi, with more offices planned as the EIB strengthens its presence in developing countries, including offices in Jakarta, Indonesia and Suva, Fiji.

European Union and its other financial institutions including European Investment Bank (EIB) have expressed keen interest to finance the country’s green energy and energy efficiency projects.   They expressed their interest during the launch of the Team Europe Initiative on Green Energy Transition (TEI GET) in Bangladesh at a virtual function on Wednesday (June 23, 2021) in the city. Welcoming the launch of the TEI GET, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said Bangladesh has set a target to generate 40 percent of electricity from renewable sources by 2040. Read Solar power plant in Manikganj starts commercial operation “We want technological and financial support from the EU to achieve the goal with its huge experience in the field”, he said. The function was also addressed by Rensje Teerink, Ambassador of the EU Delegation, head of cooperation of German Embassy Caren Blume, European Investment Bank representative Donal Cannon and German agency FfW’s representative Anirben Kundu, and Sustainable and Renewable Energy Development Authority (Sreda) Chairman Mohammad Alauddin.    It was informed that TEI GET is one of two flagships of the international Team Europe approach, which provides strategic European responses to the challenges faced by Europe`s partner countries. Also read: Move for setting up national renewable energy lab The current amount of activities of TEI GET adds up to EUR 930.6million (equivalent to around Tk 9378.7crore) to promote investment in green energy and energy efficiency projects. In Bangladesh, the Team Europe initiative on Green Energy Transition is co-chaired by Germany and the Delegation of the European Union (EU). It aims at supporting Bangladesh to build a power system that leads to maximum coverage of the country’s energy demand through renewable energy. It also intends to reduce CO2 emissions, energy consumption and demand through energy efficiency. Read Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ Nasrul Hamid said Bangladesh took up 52 solar projects and only 3-4 were implemented due to various obstacles including high cost, and scarcity in lands. “But Bangladesh is very much committed to achieve the renewable energy target and has already dropped some coal-fired power plants from the implementation list as a move to reduce dependency to fossil fuel”, he said. He said technology is changing so fast and  cost is coming down will help Bangladesh to achieve the new goal. Also read: Promotion of renewable energy requires common international platform: Nasrul Rensje Teerink said the Team Europe initiative draws on the wealth of Team Europe’s expertise in Renewable Energy. “It pulls resources together and provides an opportunity to combine the most appropriate mix of implementing modalities to obtain maximum results. It shows that multilateralism works”, she added. The EIB representative said trans-border electricity transmission, energy storage and energy efficiency projects could be potential areas of investment. Read Solar Home System: IDCOL partners seek govt intervention in loan write-off issue “But the projects must be designed appropriately maintaining international standards to attract investment from the EIB”, he added.